IIM Jammu organizes Vittamanthan: An insightful discussion on Budget 2024-25

STATE TIMES NEWS

JAMMU: The Indian Institute of Management (IIM) Jammu organized “Vittamanthan,” the post Budget 2024-25 insightful discussion and analysis, on Sunday, at the Mandapam Auditorium, IIM Jammu, Jagti Campus.
Prof. B.S. Sahay, Director, IIM Jammu, presided over the inaugural ceremony. The session commenced with a ceremonial lamp lighting, symbolizing the dissemination of knowledge and insight.
The key inaugural address was delivered by Santosh. D. Vaidya, IAS, Principal Secretary, Finance Department, who joined the event online.
He emphasized the necessity of implementing major reforms in the service sector to propel India towards achieving a status comparable to China in the manufacturing and global service sectors.
He pointed out that for a middle-income country like India to progress, it is crucial to maintain stringent control over fiscal deficits. Additionally, he recognized and appreciated the significant investments made by the central government in expanding medical education and improving access to healthcare services for the underprivileged. He highlighted that these investments are essential steps towards ensuring that quality healthcare and educational opportunities are accessible to all segments of society, which in turn will drive overall economic and social development.
The event began with a warm welcome address by Prof. B.S. Sahay, Director, IIM Jammu. He provided a brief introduction to the budget 2024-25, highlighting its focus on women, farmers, youth, and the economically disadvantaged.
He emphasized the steps outlined in the budget to develop infrastructure and create employment opportunities for the youth through higher education.
During his address, he mentioned key highlights such as the significant reduction in the fiscal deficit, a drop in the inflation rate, and an increase in the budget.
He also noted the substantial boost in research and development funding, underscoring the importance of self-reliance for market survival.
Following the inaugural address, an interactive panel discussion was held, featuring prominent speakers ranging from Narinder Khajuria, Special Secretary, Housing and Urban Development, Govt. of J&K, Arun Kumar Manhas, Director, Industries and Commerce, Govt. of J&K, Khalid Jahangir, Managing Director, Jammu and Kashmir Trade Promotion Organisation, Dr. M.A. Alim, Vice-Chairman, Confederation of Indian Industry (CII), J&K and CEO, Packaging Design Industry. Narinder Khajuria highlighted cities as economic growth centres, emphasizing brownfield development and water management.
Arun Kumar Manha, mentioned on MSME support, budget amendments, and the impact of industrial corridors on India’s economy.
Khalid Jahangir described the budget as growth-oriented, with reduced tax rates and indexation benefits for government employees.
Dr. Alim explained indexation’s role in adjusting asset costs for inflation, benefiting government employees and reducing long-term capital gains tax.
The dignitaries were given a campus tour of the Institute, including the Nalanda Library, the state-of-the-art library at IIM Jammu.
The panel discussion was moderated by Dr. Ashish Kumar, Chairperson, Student Affairs, IIM Jammu, and Dr. Naveen Goyal, Assistant Professor, IIM Jammu.
Present on the occasion were Cmdr. Kesavan Baskkaran, CAO, IIM Jammu and event was coordinated by Dr. Bijoy Rakshit, Dr. Praveen Kumar, Dr. Malay Ranjan Mohapatra, faculty, IIM Jammu.
The event was organized jointly by Impact, the Public Policy Club, Artha, the Economics Club, and Nidhi, the Finance Club, of IIM Jammu showcasing the collaborative spirit and commitment to fostering insightful dialogue on crucial economic issues.